Earnings per Share

3 Months Ended

Mar. 31, 2021

Note 11 – Earnings Per Share

Basic earnings per share (EPS) excludes dilution and is computed by dividing net loss attributable to the Company’s stockholders by the weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then share in the earnings or losses of the Company. The number of common shares issuable upon assumed conversion of convertible debt was based on the Company’s estimated common stock price as of March 31, 2020, as determined by the Company’s Board of Directors with assistance from a valuation firm.

Basic and diluted loss per share for the three months ended March 31, 2021 and 2020 were (in thousands, except per share amounts):

	Three Months ended March 31,
		2021			2020
Numerator
Net loss attributable to common stockholders	$	(6,961	)	$	(9,705	)

Denominator
Weighted-average shares outstanding used in computing net loss per share, basic and diluted		26,604			261
Net loss per share, basic and diluted	$	(0.26	)	$	(37.18	)

The following outstanding common stock equivalents were excluded from diluted net loss attributable to common stockholders for the periods presented because inclusion would be anti-dilutive (in thousands):

	Three Months ended March 31,
		2021	2020
Options to purchase common stock		2,908	1,645
Convertible preferred stock		—	119,257
Warrants		103	1,448
Restricted stock units		79	26
Convertible debt		—	34,431
Total		3,090	156,807